Score
MYN CAPITAL
Mexico|2-5 years| https://myncapital.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Mexico
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskUsers who viewed MYN CAPITAL also viewed..
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Website
myncapital.com
Server Location
United States
Website Domain Name
myncapital.com
Server IP
162.241.61.249
Company Summary
| MYN CAPITAL | Basic Information |
| Company Name | MYN CAPITAL |
| Founded | 2021 |
| Headquarters | Mexico |
| Regulations | Unregulated |
| Tradable Assets | Forex, Commodities, Indices, Stocks |
| Account Types | Not specified |
| Minimum Deposit | $10 (with certain funding methods) |
| Maximum Leverage | 1:100 |
| Spreads | High (EUR/USD spread is 3 pips) |
| Commission | Not specified |
| Deposit Methods | Bitcoin, Credit/Debit cards, PayRetailers, TRX |
| Trading Platforms | Webtrader |
| Customer Support | Not specified |
| Education Resources | Not specified |
| Bonus Offerings | Not specified |
Overview of MYN CAPITAL
MYN CAPITAL is an unregulated broker based in Mexico that was founded in 2021. The company offers trading in forex, commodities, indices, and stocks. While the minimum deposit requirement is relatively low at $10 (with certain funding methods), the broker lacks regulation, which poses risks to traders. Additionally, MYN CAPITAL imposes high spreads, with the EUR/USD spread being 3 pips, leading to higher trading costs compared to industry standards.
The account opening process of MYN CAPITAL is not transparent, and there is limited information available regarding account types, commission rates, customer support, and educational resources. The trading platform provided, the basic Webtrader, lacks advanced features and is considered less reliable and user-friendly compared to industry-leading platforms like MetaTrader4 (MT4) and MetaTrader5 (MT5). Furthermore, MYN CAPITAL's member dashboard is complex and lacks important details, raising concerns about the platform's competence.
It is important to exercise caution when considering MYN CAPITAL as a trading option, as the lack of regulation, high spreads, and limited information raise doubts about the broker's trustworthiness and transparency.
Is MYN CAPITAL Legit？
MYN CAPITAL is not regulated by any recognized financial authority. This means that the broker operates without the oversight and supervision that regulation provides. Trading with an unregulated broker like MYN CAPITAL exposes traders to significant risks, as there are no guarantees regarding the safety of funds, fair trading practices, or proper handling of client complaints. Regulated brokers, on the other hand, are subject to strict regulations and are required to adhere to certain standards and guidelines to protect the interests of their clients. It is generally advisable to choose a regulated broker to ensure a higher level of security and accountability in the trading process.
Pros and Cons
MYN CAPITAL offers a variety of trading assets and allows for leverage reduction. It provides multiple deposit methods and has a low minimum deposit requirement. However, it is not regulated, which poses risks to traders. The spreads are high, and the trading platform lacks advanced features. The account opening process is not transparent, and there is limited information on account types and customer support. Overall, caution is advised when considering MYN CAPITAL as a trading option.
| Pros | Cons |
| Offers trading in a variety of assets including forex, commodities, indices, and stocks. | Not regulated by any recognized financial authority, posing risks to traders' funds and fair trading practices. |
| Provides opportunities to invest in popular stocks from global companies. | High spreads, with the EUR/USD spread being 3 pips, leading to higher trading costs compared to industry standards. |
| Allows for leverage reduction, giving traders the option to decrease trading risks. | Lack of transparency in the account opening process and complex member dashboard. |
| Offers multiple deposit methods including Bitcoin, Credit/Debit cards, PayRetailers, and TRX. | Limited information available regarding account types, commission rates, customer support, and educational resources. |
| Minimum deposit requirement is relatively low, starting at $10 (with certain funding methods). | Basic Webtrader platform lacking advanced features, making it less reliable and user-friendly compared to industry-leading platforms like MetaTrader4 (MT4) and MetaTrader5 (MT5). |
Trading Instruments
MYN Capital provides trading opportunities in commodities, forex, indices, and stocks. Traders can engage in commodity trading with assets like coffee, cotton, crude oil, and natural gas. The platform focuses on major currency pairs for forex trading, excluding exotic and minor pairs. It also offers indices from leading international markets, including popular ones like DAX, Dow Jones, NASDAQ, and Nikkei. Additionally, MYN Capital allows traders to invest in stocks from various global companies, such as Google and Samsung, covering a wide range of sectors.
Here is a comparison table of trading instruments offered by different brokers:
| Broker | Forex | Commodity | Crypto | CFD | Indexes | Stocks |
| MYN Capital | Yes | Yes | No | No | Yes | Yes |
| Tickmill | Yes | Yes | Yes | Yes | Yes | Yes |
| EXNESS Group | Yes | Yes | Yes | Yes | Yes | Yes |
| AMarkets | Yes | Yes | No | Yes | Yes | Yes |
How to Open an Account？
The account opening process of MYN Capital lacks transparency and raises suspicions. The trading software does not provide clear instructions or a step-by-step guide on how to open an account. This lack of information on the platform's homepage is concerning.
Furthermore, once an account is opened, the member dashboard proves to be complex and difficult to navigate. Important details such as percentage wins and indicators are missing, which raises doubts about the competence of the platform's developers.
The verification process for account opening requires members to submit vital documents. The absence of a two-factor authentication process raises further concerns about the security of personal information shared with the trading software.
Leverage
MYN Capital offers leverage of up to 1:100, which poses trading risks. However, it is worth noting that the broker allows for leverage reduction. Customers have the option to register an account with a lower leverage of 1:20 if they wish to decrease their trading risks.
It is important to note that while leverage can increase potential gains, it also magnifies potential losses. Higher leverage means that even small market fluctuations can result in significant losses. Traders should exercise caution and have a thorough understanding of the risks involved when trading with leverage.
Here is a comparison table of maximum leverage offered by different brokers:
| MYN Capital | AvaTrade | IG | IC Markets | |
| Maximum Leverage | 1:100 | 1:400 | 1:200 | 1:500 |
Spreads and Commissions
MYN Capital imposes high trading costs, particularly in terms of spreads. The spread for the EUR/USD currency pair is 3 pips, which is significantly higher compared to the industry standard of 1 pip or even lower. This means that clients trading with MYN Capital will incur higher costs, paying $30 per lot traded instead of the more typical price of $10 or less. These higher costs make MYN Capital an expensive option for traders, as they will have to bear significantly higher expenses for their trades compared to other brokers offering more competitive spreads.
Deposit & Withdraw Methods
MYN Capital offers multiple deposit methods, including Bitcoin, Credit/Debit cards, PayRetailers, and TRX. During testing, it was observed that customers could fund their accounts with a minimum deposit of $10 using specific funding methods such as Bitcoin. However, it is important to note that the actual trading may require higher deposits, although the exact minimum deposit amount is not disclosed by MYN Capital.
It should be noted that direct Credit/Debit card deposits are not possible as all transactions are processed through different e-wallets, making chargebacks impossible. This limitation in refund options raises concerns and indicates potential fraudulent practices.
Unfortunately, specific information regarding withdrawal conditions and fees is not available. However, considering the exposed scam nature of MYN Capital, it is advisable not to expect any withdrawals. Additionally, it is worth mentioning that the website was primarily available in Spanish, and translation services were used to access the information. While there might be some potential inaccuracies due to translation, the most crucial aspect is that MYN Capital is an exposed scam, rendering any minor inaccuracies irrelevant.
Here is a comparison table of minimum deposit required by different brokers:
| Broker | MYN Capital | Deriv | Exnova | Tickmill |
| Minimum Deposit | $10 | $5 | $10 | $100 |
Trading Platforms
MYN Capital offers a basic Webtrader as its trading platform. However, the platform is not considered trustworthy and lacks advanced features. It is advised against trading with MYN Capital primarily due to the poor quality of their trading software. Instead, it is recommended to choose brokers that offer the industry-leading MetaTrader4 (MT4) and MetaTrader5 (MT5) platforms. Both MT4 and MT5 have established themselves as reliable and user-friendly platforms with a wide range of advanced features. These features include automated trading options, analytical tools, reliable indicators, a strategy tester, and a marketplace with numerous trading apps. In comparison, MYN Capital's Webtrader lacks these capabilities, making it an inferior choice for trading.
Conclusion
MYN CAPITAL, an unregulated broker based in Mexico, offers trading in forex, commodities, indices, and stocks. While the broker has a low minimum deposit requirement and allows for leverage reduction, it lacks regulation and imposes high spreads, resulting in higher trading costs. The account opening process is not transparent, and there is limited information available on account types, commission rates, customer support, and educational resources. The basic Webtrader platform provided is considered less reliable and user-friendly compared to industry-leading platforms. Caution is advised when considering MYN CAPITAL as a trading option due to the risks associated with its lack of regulation and limited information.
FAQs
Q: Is MYN CAPITAL a regulated broker？
A: No, MYN CAPITAL is not regulated by any recognized financial authority. Trading with an unregulated broker exposes traders to significant risks, including the safety of funds, fair trading practices, and proper handling of client complaints.
Q: What trading instruments are available with MYN CAPITAL？
A: MYN CAPITAL offers trading opportunities in forex, commodities, indices, and stocks. Traders can invest in popular stocks from global companies and engage in commodity trading with assets like coffee, cotton, crude oil, and natural gas.
Q: What is the leverage offered by MYN CAPITAL？
A: MYN CAPITAL offers leverage of up to 1:100, but traders can choose a lower leverage of 1:20 to decrease trading risks.
Q: What are the spreads and commissions charged by MYN CAPITAL？
A: MYN CAPITAL imposes high spreads, with the EUR/USD spread being 3 pips, resulting in higher trading costs. However, specific information on commissions is not provided.
Q: What deposit and withdrawal methods are available with MYN CAPITAL？
A: MYN CAPITAL accepts deposits through Bitcoin, Credit/Debit cards, PayRetailers, and TRX. However, direct Credit/Debit card deposits are not possible, and information regarding withdrawal conditions and fees is not available.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
Review 6
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Pequeña
Guatemala
Good afternoon, you made an investment but due to lack of time I could not answer your calls and follow up when I want to withdraw my money, they do not allow me to withdraw it. I spoke with my supposed analyst and he sent me to finance, who to date has not communicated with me. Invest 500 dollars I am from Guatemala and here are 4000 Quetzales that were going to help me for my son's school expenses since I am a single mother but the truth is they are scammers and they take advantage of the people who do work. Hopefully one day God will do justice to this kind of people...
Exposure
2022-12-27
Jimmy042
Peru
I have been working with this broker since February-March 2022. We were very good, the adviser gave me instructions to open very favorable positions, I was able to make a small withdrawal, then for the month of April things got very bad, we had unfavorable open positions and the account had a very low margin, the broker asked me to invest more, he told me that for every dollar that I deposited they would be giving me the same amount in operating bonuses, that seemed great to me, we started again, we made the account grow, in the month of June I ask to make a withdrawal of 30 thousand dollars, the broker told me that he agreed but that he will manage it and that he needed time because it was a significant amount of money, then he told me that an additional deposit of 4 had to be made thousand dollars, I made the deposit, by the end of June the account is closed and the registration that I had requested was no longer appropriate, I was left with nothing, the broker became aggressive, threatened me, I began to send messages to the page to fb, I was calling him, until he answered and told me that if I wanted to get my money back I had to deposit more money. I kept sending messages to the fb page and emails so they can see my case, I was sure that this situation was something irregular and that it was an isolated case. A man contacted me who told me that he was the brand's image manager and that he was concerned about the messages he had seen; I told him about the situation, he told me that he was sorry for what happened and that the broker who was advising me was being withdrawn from the operation, he would be in charge of guiding me to recover what was invested in something, he did not ask me for money, he told me that he was giving me an operating bonus, no withdrawal of 25 thousand dollars to be able to continue operating, I could only withdraw what I could earn in operations. THEY DID NOTHING. I am currently trying to withdraw the little money that I have been able to generate but it is not possible. There is still $30,000 withdrawable in the account.
Exposure
2022-12-07
Dinaluz
Colombia
I contacted a Lián analyst and he persistently insisted that I deposit the money (200 dollars) because he wanted me to take advantage of the promotion of the 4 benefits that the company supposedly grants after he intensely convinced me to do so and exhausted every last resort. It was the credit cards and he told me that he would send him a copy of the identity card plus an energy receipt and that he would call me at 4 pm to activate my account, and from there he did not call me again practically since I deposited the money, he literally disappeared despite the fact that I called him and wrote. In my despair I dialed his number and another person who did not know him answered, today another analyst called me who according to him had gone to another department and he told me he was going on vacation, this lady, there is no consistency in What all this argues is a facade to scam people.
Exposure
2022-12-02
Sanfa Mansaray
United States
This company doesn't provide Spanish services, but I don't feel sorry because I found out that it doesn't have any regulatory licenses. It is most likely a scammer!
Neutral
2023-02-23
正谦
Indonesia
In my personal experience, this broker is not unreliable, with promotional languages full of its official website, yet some key information like trading fees, investment plans missing. I refuse its invitation as I don’t want my money flow into their pockets.
Neutral
2023-02-16
FX1096593671
Argentina
There are very few forex brokers in Latin America, so I have a better impression of local brokers. But this company doesn't seem to deserve my favor, because it doesn't have any regulatory information. Most likely he is a liar.
Neutral
2022-12-02